State Agencies

While you may elect to contact the following state and federal agencies directly, local economic development agencies are in constant communications with these organizations. They may be able to answer your questions and/or address your problems without you experiencing the cost of long distance calls, or the frustration of being transferred from office to office.

Louisiana Economic Development Corporation

The Louisiana Economic Development Corporation (LEDC) offers a variety of loan guarantee programs. The LEDC itself does not make direct loans; you must have a bank that is willing to loan you the money with the backing of an LEDC guarantee.

Small Business Loan Program

This program provides loan guarantees and loan participation with banks in order to facilitate capital accessibility for businesses. Guarantees may range up to 75% of the loan amount, not to exceed a maximum of $1.5 million. Also provided is a loan participation of up to 40%. The maximum dollar figure for a guarantee or a participation is $1.5 million. Loan participation of up to 40% is also available. Applicants must have a business plan and a bank that is willing to fund the loan.

Business Linked Deposit Program

The Linked Deposit Program provides for an interest rate reduction of from 1 to 4% on a maximum loan of $200,000 for two to five years on term loans that are funded by banks to Louisiana businesses. Job creation, statistical area employment, and cash flow requirements for underwriting are all criteria which will effect the percentage and term of the linked deposit. Applicants should apply through their lender.

Micro Loan Program

This program provides loan guarantees and participation to banks that fund loans ranging from $5,000 to $50,000 to Louisiana small businesses.

Contract Loan Program

This program is intended to provide a loan participation and guarantee to a bank for government contract loans. These loans are intended to help businesses finance working capital for contracts with local, state, or federal government agencies. Loans may range from $5000 to $1,000,000 and must be for terms of one year or less.

Ex-Im Bank City / State Program

Through its relationship with the U.S. Export-Import Bank in Washington, D.C., the LEDC facilitates export working capital loans for small Louisiana businesses. Contact 225-342-5675 for more information.

Louisiana Department of Agriculture

For companies involved in processing Louisiana agriculture and forestry products, the Louisiana Department of Agriculture offers the following financing programs.

State Market Commission / Loan & Loan Guaranty Program

This program is available for an entity engaged in the marketing, processing, and/or further processing of Louisiana agriculture products. The program provides a loan or loan guarantee to a bank, not to exceed 5 years. Funds may be used to acquire, construct, furnish, equip, purchase, or improve any agricultural plant, operations capital, market development costs, and product inventories.

This program is available for eligible agricultural products processing businesses, and provides low interest loans to any person to acquire, construct, furnish, equip, facility purchase or improvements, operating capital, market development, and product inventories.

State Market Commission / Agricultural Production Linked Deposit Loan Program

Available for "Eligible Agricultural Products Businesses." Provides low interest loans to finance the cost of maintaining a farm in Louisiana. Contact 225-922-1292 for more information, or visit the website.